Sanoma sells its Romanian press distribution and kiosk operations
(Thomson Reuters ONE) -
Press Release 8/4/2011 16:15
The Sanoma Trade division of the Sanoma Group will sell its press distribution
and kiosk operations in Romania to Dan Vasile, the acting Managing Director of
Rautakirja Romania S.A. and R-Kiosk Romania S.A. Sanoma will record a non-
recurring restructuring cost of some EUR 8 million from this transaction in its
second quarter result.
This transaction is in line with Sanoma's strategy to focus its operations and
to concentrate on consumer media and learning solutions.
In 2010, net sales of the Romanian kiosk operations were EUR 5 million and R-
Kiosk Romania has some 20 kiosks, located mainly in Bucharest and Sibiu. The
kiosk operations employ some 120 people (FTEs). Net sales of the press
distribution operations were EUR 18 million in 2010 and Rautakirja Romania has
35% market share in the Romanian press distribution market. The press
distribution operations employ some 200 people (FTEs). The divested operations
will not be included in Sanoma Trade's figures as of 1 May.
As the result of the transaction, Sanoma Trade's outlook for the operating
profit improves. Sanoma Trade's operating profit excluding non-recurring items
is now expected to be at the previous year's level. Previously, Sanoma Trade's
operating profit excluding non-recurring items was expected to decrease clearly.
Sanoma Trade's net sales are still estimated to decrease clearly in 2011. This
transaction does not have an effect on the outlook of the Sanoma Group.
Sanoma Corporation
Kim Ignatius
Chief Financial Officer
Additional information: Sanoma's Investor Relations, Kare Laukkanen tel.
+358 105 19 5064 and Anna Tuominen tel. +358 105 19 5066 or ir(at)sanoma.com
Sanoma.com
Sanoma inspires, informs and connects. As a diversified media group, we bring
information, experiences, education and entertainment to millions of people
every day. We make sure that quality content and interesting products and
services are easily available and meet the demands of our readers, viewers and
listeners. We offer a challenging and interesting working environment for nearly
20,000 people in over 20 countries throughout Europe. In 2010, the Group's net
sales totalled EUR 2.8 billion.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Sanoma Oyj via Thomson Reuters ONE
[HUG#1504844]
Unternehmensinformation / Kurzprofil:
Datum: 08.04.2011 - 15:15 Uhr
Sprache: Deutsch
News-ID 53329
Anzahl Zeichen: 3049
contact information:
Town:
Helsinki
Kategorie:
Business News
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